European Union reaches provisional deal on 2026 budget

According to the agreement, the total EU budget spending commitment for next year will reach about 192.8 billion euros, of which 715 million euros will be set aside as a reserve fund to deal with unexpected situations.

European Union flag in Brussels (Belgium). (Photo: THX/TTXVN)

The European Union (EU) announced on November 15 that it had reached a provisional agreement on the 2026 budget after negotiations that lasted until dawn the same day local time between representatives of member states and the European Parliament (EP).

This is considered an important step, creating the basis for the bloc to complete the spending plan for next year in the context of many economic and security challenges.

According to the agreement, the total EU budget spending commitment for 2026 will reach about 192.8 billion euros (equivalent to 224 billion USD), of which 715 million euros will be set aside as a contingency fund to deal with unexpected situations.

The creation of this reserve is in line with the proposal of the majority of member countries, which want to increase the bloc's financial flexibility in times of uncertainty.

During the budget negotiations, the EP reached an agreement to remove some spending cuts proposed by some member states.

Previously, these countries proposed to keep the total 2026 budget not exceeding 186.2 billion euros, but after the discussion process, the parties agreed to add an additional 6.6 billion euros.

The increase is mainly for EU strategic priority areas such as defence, border management and enhancing competitiveness.

The interim agreement on the 2026 budget needs to be approved by the EU Council on November 24 before being submitted to the EP for approval at a plenary session later this month.

Reaching an early consensus will help the EU maintain financial stability and continue to promote economic and security goals in the context of an unpredictable world picture.

Source: https://baolamdong.vn/lien-minh-chau-au-dat-thoa-thuan-tam-thoi-ve-ngan-sach-nam-2026-403140.html